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What Is a Social Security Deduction?

April 26, 2017deduction social security social security benefit social security benefits social security benifits social security gov social security medicare social security retirement social security taxes

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What Is a Social Security Deduction?

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The term “Social Security deduction” is used in two different ways. In the first sense, it can refer to the automatic deduction taken from a paycheck to pay into Social Security. In the second sense, it refers to a tax deduction which certain tax payers are entitled to take. Both senses are unique to the United States, where Social Security is used to provide benefits to older Americans and Americans with severe disabilities who cannot earn income through work.